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And the legendary Finn believes the buy-back clause inserted into Jarell Quansah's Bayer Leverkusen contract could prove to be an astute piece of business at Anfield.
The decision to let England Under-21 international Quansah leave in a £35m deal means the Reds now have just three senior centre-backs in Ibrahima Konate, Joe Gomez and captain Virgil van Dijk.
Gomez was sent home from the club's pre-season tour of Asia last week after suffering what has been described as a minor Achilles issue in Hong Kong and while Wataru Endo has previously played the position, Slot was forced to field midfielder Ryan Gravenberch and left-back Kostas Tsimikas in each half of Saturday's 4-2 loss to AC Milan alongside Van Dijk and Konate, respectively.
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Liverpool insist there is no panic over the situation at present but have been linked with a deal for Crystal Palace star Marc Guehi, who is out of contract next summer at Selhurst Park and Hyypia, who played 464 times for the Reds, expects another centre-half to join before the end of the window.
"I think it is good for Jarell to play every week [at Leverkusen]," Hyypia told the ECHO in Hong Kong.
"He is in that age where he needs to play every week and probably if he stayed here that wouldn't be possible, so I heard that we have a buy-back clause.
"So when he is playing every week and he develops, I think we can [bring him back].
That was maybe physically easier to play every game but I think the distances we were running were not as high as they are doing now but I think, I would be surprise, if we didn't sign anyone.
"I think Ibou (Konate) has had his injury problems and I think Joe has had his injury problems as well, so if one of them is injured then we only have two senior centre-backs, so yes, I would be a little bit surprised if we didn't sign a centre-back.
"I think Van Dijk is the best in the world.
I think what I would expect more would be to score more from the set-pieces.
"I would maybe expect even more, him scoring.
And he is a great leader, he makes everyone around him better as well."
Hyypia also gave his take on the additions of £116m Florian Wirtz and Jeremie Frimpong, who both played for another of the former defender's old clubs in Leverkusen, prior to their captures at Anfield in June.
Hyypia added: "[Wirtz] is coming to a new culture and a new competition and I think the Premier League is a tougher league than the Bundesliga, with all respect to the Bundesliga, it is a great league but I think the Premier League is a step tougher.
Xabi wanted to play football when they were in that team and very important parts, so they were in a good school already and with the work that Xabi, I know, wants everyone to work very hard in training every day and it is no different here and they will be ready when the season starts."
"[Frimpong] will face a battle with Conor Bradley [at right-back], I wouldn't count Conor out of that battle but yes Jeremie has different strengths than Trent had, I think Jeremie is maybe not as good a crosser of the ball than Trent Alexander-Arnold was but his speed is unbelievable and he can go past somebody one-against-one and, yes, I think everyone, all the other players they will see in training, they will see his strengths and they will be OK."